BRIEF-Open Lending And Nebula Acquisition Corp Announce Business Combination Agreement

Jan 6 (Reuters) - Nebula Acquisition Corp :
   * OPEN LENDING AND NEBULA ACQUISITION CORPORATION ANNOUNCE BUSINESS COMBINATION AGREEMENT
   * NEBULA ACQUISITION CORP - NEBULA WILL ACQUIRE OPEN LENDING
   * NEBULA ACQUISITION CORP - CONSIDERATION PAYABLE TO STOCKHOLDERS OF OPEN LENDING WILL CONSIST OF COMBINATION OF CASH & SHARES OF COMMON STOCK OF CO
   * NEBULA - TO ACQUIRE OPEN LENDING THROUGH NEW CO THAT WILL BECOME A PUBLICLY-LISTED ENTITY WITH ESTIMATED ENTERPRISE VALUE AT CLOSING OF ABOUT $1.3 BILLION
   * NEBULA - UPON CLOSE OF TRANSACTION, COMPANY INTENDS TO CHANGE ITS NAME TO OPEN LENDING CORPORATION
   * NEBULA ACQUISITION CORP - OPEN LENDING CORPORATION IS EXPECTED TO TRADE ON NASDAQ STOCK MARKET UNDER A NEW TICKER SYMBOL
   * NEBULA ACQUISITION CORP - OPEN LENDING'S MANAGEMENT TEAM IS EXPECTED TO ROLL 70% OF THEIR EXISTING EQUITY INTERESTS IN BUSINESS
   * NEBULA - OPEN LENDING'S EXISTING MINORITY INVESTOR, BREGAL SAGEMOUNT WILL CONTINUE AS A PUBLIC STOCKHOLDER
   * NEBULA - CASH COMPONENT OF PURCHASE PRICE TO BE PAID EXPECTED TO BE FUNDED BY CO'S CASH IN TRUST, AMONG OTHERS
   * NEBULA - CASH COMPONENT OF PURCHASE PRICE EXPECTED TO ALSO BE FUNDED BY UP TO $225 MILLION OF INSTITUTIONAL DEBT FINANCING, $200 MILLION PRIVATE PLACEMENT
   * NEBULA ACQUISITION CORP - CO'S SPONSOR AND MANAGEMENT TEAM HAVE AGREED TO FORFEIT ALL OF THEIR FOUNDER WARRANTS
   * NEBULA ACQUISITION CORP - INTENDS TO LAUNCH A SOLICITATION TO RETIRE ALL OUTSTANDING PUBLIC WARRANTS

Source text for Eikon:  Further company coverage:

((Briefs@thomsonreuters.com;)